Corn & Soybeans Limit UP Day

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CHICAGO (Reuters) - U.S. corn prices surged 9.4 percent on Tuesday, rising the maximum daily trading limit after forecasts called for a frost in the U.S. Midwest next week that could harm the maturing crop, traders said.

CBOT corn futures for December delivery rose the daily trading limit of 30 cents to $3.47-3/4 per bushel, the highest level in more than a month. Corn for March and May delivery also went limit up.

CBOT November soybeans rose nearly 7 percent to as high as $9.77-3/4. Soymeal futures for delivery through March rose the rose the daily trading limit of $20 per ton.

U.S. crops have thrived this summer, and the U.S. Department of Agriculture last week projected a record harvest of soybeans and a near-record corn crop.

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I has always been fascinated by the huge volatility and those lock limit price moves - here is one to rebebmer.